Genfit SA Stock Forecast
Genfit SA stock price up 0.289% on Friday
(Updated on May 17, 2024)
The Genfit SA stock price gained 0.289% on the last trading day (Friday, 17th May 2024), rising from 3.47€ to 3.48€. During the last trading day the stock fluctuated 1.90% from a day low at 3.43€ to a day high of 3.50€. The price has risen in 7 of the last 10 days and is up by 7.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 thousand more shares were traded than the day before. In total, 123 thousand shares were bought and sold for approximately 427.23€ thousand.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. 3.37€ is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach 3.57€ sometime during the next 3 months.
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GNFT.PA Signals & Forecast
Mostly positive signals in the chart today. The Genfit SA stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 3.44€ and 3.28€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.97%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Genfit SA has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Genfit SA stock
On the downside, the stock finds support just below today's level from accumulated volume at 3.25€ and 3.22€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Genfit SA finds support just below today's level at 3.25€. If this is broken, then the next support from accumulated volume will be at 3.22€ and 3.20€.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.0650€ between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 2.79%.
The Genfit SA stock is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: 3.29€ (-5.26%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (GNFT.PA) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Genfit SA to open at 3.47€, and during the day (based on 14 day Average True Range), to move between 3.39€ and 3.56€, which gives a possible trading interval of +/-0.0833€ (+/-2.40%) up or down from last closing price. If Genfit SA takes out the full calculated possible swing range there will be an estimated 4.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 3.49€ (0.43%) than the support at 3.25€ (6.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Genfit SA stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Genfit SA stock to perform well in the short-term period.
Current score: 4.097 Buy Candidate Unchanged
Predicted Opening Price for Genfit SA of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 3.47€ ( 0.240%) | 3.48€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNFT.PA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.53 | 1.63 % | |
| R2 | 3.51 | 0.92 % | ||
| R1 | 3.49 | 0.475 % | ||
| Current price: | 3.48 | |||
| Support | S1 | 3.44 | -0.95 % | |
| S2 | 3.43 | -1.40 % | ||
| S3 | 3.40 | -2.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 3.49 | 0.432 % | ||
| Current price | 3.48 | |||
| Support | S1 | 3.25 | -6.62% | |
| S2 | 3.22 | -7.34% | ||
| S3 | 3.20 | -7.91% |
FAQ
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